New products said to provide landlords with competitive prices
Paragon Bank has launched four discounted standard variable rate (SVR) buy-to-let mortgages, available for portfolio landlords with four or more mortgaged properties purchasing or remortgaging houses in multiple occupation, multi-unit blocks, and single self-contained properties.
The discounted SVR products are available at 75% loan-to-value (LTV), spanning 12-month, two-year, three-year, and five-year terms. Rates start at 3.99% for a two-year discounted variable, with an energy performance certificate of ‘A’ to ‘C’, along with a 1% product fee and 3% redemption fee for two years. All four products are also offered with free mortgage valuations.
“Speaking to brokers, we know that for all of the economic turmoil of the past few weeks, landlords are still seeking to modify their portfolios in response to sustained strong tenant demand,” Moray Hulme (pictured), Paragon Bank’s director for mortgage sales, said. “To support this investment, we have launched four discounted SVR products that provide landlords with flexibility and prices that are competitive in today’s market.”